Bitcoin miner IREN falls after planned $875 mln convertible bonds sale announced

IREN

07/10/2025 21:26

** Shares of IREN IREN.O down 6.5% at $57.70 in extended trading as bitcoin miner looks to raise capital

    **
    Australia-based IREN announces private offering of
    $875 mln
    convertible bonds due 2031

      ** Co intends to use net proceeds for general corp purposes, working capital

      ** It also plans to use a portion of net proceeds to pay for capped calls, derivative transactions to offset potential dilution

            ** IREN shares on Tues closed up 6.8% at $61.68 after co inked new cloud services contracts for Nvidia NVDA.O GPUs

            ** In Aug, co secured Nvidia's preferred partner status

        ** IREN has about $16.8 bln market cap

        ** Through Tues close, shares up 523% YTD

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))